This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/06/11/millennial-startups-can-you-handle-business-finance/
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There are two statistics that matter the most when it comes to millennials and finance. First of all, as many as 72 percent of all millennials are confident that they can achieve their financial goals, unfortunately, only 47 percent of them actually know what they should do when it comes to investment. The problem with this lies in the fact that, when it comes to the issue of business finance, knowledge matters far more than confidence.
Ideally, a millennial entrepreneur would have both of these weapons on their side, so here are several things that they should know about business finance.
Source of initial capital.
The first thing you need to know about business finance is the fact that the source of initial capital sometimes makes all the difference. Most commonly, startups are financed by loans (most often by friends and family), angel investors, venture capital or crowdfunding. Other options are startup accelerators and local economic development organizations. Just remember that every time you take money from someone you’re making a certain commitment and it is this commitment that might have an impact on the future course of your enterprise. Sometimes, keeping equity in your company is more important than starting your entrepreneurial career debt-free.
Living the lifestyle.
Another problem that a lot of millennial entrepreneurs have with business finance is the fact that they’re living a lifestyle that they can’t afford. There are a lot of problems with this, seeing as how every single dollar counts in the early stages of your business. Even when your business becomes profitable, you need to consider redirecting some of this profit back towards your business. A successful business is the one that burns cash, while a successful entrepreneur is the one who avoids doing … Read More
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